Fulton Market impact development underway

An “impact development” is one that’s likely to spur substantial change in its immediate area.

The Fulton Market neighborhood in the West Loop is an interesting, mixed-use area with only sparse residential development. The make-over of the 1923-vintage Fulton Market Cold Storage Building, which is currently in the demolition phase, will add a large number of office, restaurant and retail jobs to the area when it’s completed in 2014, and will accelerate the redevelopment of an area that’s been languishing for the past half-dozen years.

Don’t expect to see new condos or apartments spring up next to the building, despite the proximity of the new El stop. New residential development is limited by the fact that much of the neighborhood lies within the Kinzie Industrial Corridor planned manufacturing district. A project (pictured above) that attempted to bypass the limits has been stalled for half a dozen years and was recently acquired for development of a microbrewery and retail on the site.

Will these developments stabilize or increase demand for housing in the nearby neighborhoods?

COMMENTS

I live a few blocks east of there and I absolutely love the fulton market area. It can look a bit apocalyptic sometimes, but there’s very diverse commerce. Jupiter Cafe is awesome, Aviary, Publican, Glazed donuts, The Mid (if you’re into that scene), some cool art galleries, and you’re very close to the expensive Randolph restaurants. I’m glad they will be adding more business/office space in the area, but I wish there were more residential options so the place wouldn’t feel so lonely over the weekends. Only condo/loft residences I can think of that are in the heart of the Fulton Market district are Blue Moon Lofts (215 Aberdeen), Warehouse 312 (312 N. May), and that 1114 W Fulton building.

Are they completely demolishing the cold storage warehouse or just rehabbing it?

It is great to see this project underway. There are a lot of good things happening in the West Loop area these days.

There are some pockets of residential buildings on Fulton, but not much. I think the elevated CTA tracks on Lake will be a big part of the problem getting more residential stuff in on Fulton (not to mention the industrial neighborhood full of tractor trailer-height curbs for easy loading). Lake Street currently creates a pretty effective barrier, or at least the feeling of a barrier between Randolph and Fulton. I’d much rather live south of Lake, at least for the time being.